Spring 2012

Heterodox Microeconomics

This course is intended for students who are interested in economic theory, who are curious about critiques of standard microeconomic theory developed using the same mathematical tools and assumptions about individual maximizing behavior common to mainstream microeconomics, and who are interested in alternative microeconomic models which explore issues left unaddressed by traditional microeconomic theory. It is designed to be appropriate for undergraduate as well as graduate students with these interests.

Previous course work in mathematics and microeconomic theory is useful. However, what is more important is an inclination to think and work with analytical models to derive conclusions.  We will do much of the work of deriving results and exploring applications as a class, where those who are more familiar with certain tools and concepts can assist those who are less familiar.  The class will have more of the tone of a seminar than a standard course.

Winter 2012

Behavioral Economics

This course will explore how economics has been incorporating insights and findings from psychology into the discipline.  This comes after nearly a century of independent evolution with psychologist focusing on experiments to detail how people think and behave and economist focusing on simplified models of individual agents to develop theories about markets and strategic behavior.

We will be relaxing the assumptions of self-interest, willpower and  calculating ability.  This follows a tradition of relaxing assumptions to advance economic theory.

Energy Economics: An Overview 

The course investigates the economics of energy production and consumption, global energy resources, impacts of price on economic efficiency and equity, policy trends, and, in particular, Pacific Northwest energy issues. Conventional and unconventional energy technologies will be examined. Environmental problems and the treatment of externalities will be explored. So, too, will conservation as an energy resource. Potential energy shocks, ways to address uncertainty, and reliance on the market to solve energy problems will be studied. Several expert guest lecturers are scheduled. The class will focus on contemporary Northwest as well as national and global energy issues.

Computational Economics

This course is an introduction to the most commonly used computational tools for conducting numerical analysis of dynamic economic models. As most complex dynamic models used in modern economic research do not have analytical (closed-formed) solutions, it is becoming essential to be equipped with solution methods that allow researchers to solve for their models numerically with an acceptable level of accuracy and precision. In this course a basic Real Business Cycle model will be used as a framework upon which various methods are applied to obtain its solutions, namely the value function-based methods and the Euler condition-based method. To enable a thorough understanding of such methods, relevant topics in numerical analysis are reviewed. More general methodologies to solve linear rational expectations models will also be taught. Finally a short introduction will be made on Dynamic Stochastic General Equilibrium model, its extensions, and computational issues confronted by the heterogenous-agent model.

Prerequisites

Intermediate or advanced macroeconomics (EC 312 or EC 582). Students are expected to be familiar with topics such as optimal growth, social planner vs competitive equilibrium, dynamic programming vs Lagrangian, value function and Euler conditions.

Mathematical economics (EC 480/580). Students are expected to have familiarity with optimization, linear algebra, multivariate differentiation, fixed point theory, and basic numerical methods.

Fall 2011

None Scheduled 

Summer 2011

Economic Development in Contemporary China and Sino-US Trade (Yanqiang Ding)

China includes one-fifth of the world population (four times the U.S. population) and its economy is one of the fastest growing and largest in the world, with effects far beyond China’s borders. Understanding Chinese economic development is therefore of critical importance. This course covers a number of aspects of the Chinese economy and supplies students with systematic knowledge about the economic rationale for development, reform and operation of the contemporary Chinese economy.

Environment and the Economy of China (Yanqiang Ding)

Briefly introduce the contemporary economic development in China and examines several local, national and global environmental challenges. Review introduction of the traditional environmental economics theory into China and its application in China’s circumstances. Articulate the sustainable development strategy and scientific development outlook in China, rationales of human-oriented and nature-centric development. Regional, sectoral and business case studies used to illustrate key policy issues. Topics include population control, poverty reduction, global warming, resource/energy saving and recycling, biodiversity preservation, pollution control, green national accounting, urbanization and sustainability.

History of 3rd World Development Strategies (Francis Wambalaba)

This course will review historical trends of development strategies in developing countries with the goal of understanding prospects for Millennium Development Goals (MDG) in context. The course will focus on historical developments, policy context and MDG case studies as well as pertinent theoretical perspectives. Ultimately, the student will be able to describe policy trends; discuss economic challenges; analyze policy implications; and develop a pertinent case study.

Spring 2011

Econometric Analysis of Panel Data

This is a course on applied econometrics dealing with 'panel' or 'longitudinal' data sets. Topics to be studied include specification, estimation, and inference in the context of models that include individual (firm, person, etc.) and/or time effects. We will begin with a development of the standard linear regression model, then apply it to panel data settings involving 'fixed' and 'random' effects. The basic model will be extended to dynamic models with recently developed GMM and instrumental variables methods. We will consider numerous applications from the literature, including static and dynamic panel data regression models.

Basic understanding of econometric analysis is required (EC 469, 570 or equivalent). Knowledge of calculus, algebra, probability theory and statistics are essential for this course. Familiar with computer programming and econometric packages will be useful. Stata 11 will be used throughout the course.

Winter 2011

Behavioral Economics

This course will explore how economics has been incorporating insights and findings from psychology into the discipline.  This comes after nearly a century of independent evolution with psychologist focusing on experiments to detail how people think and behave and economist focusing on simplified models of individual agents to develop theories about markets and strategic behavior.

We will be relaxing the assumptions of self-interest, willpower and  calculating ability.  This follows a tradition of relaxing assumptions to advance economic theory.

Energy Economics: An Overview 

The course investigates the economics of energy production and consumption, global energy resources, impacts of price on economic efficiency and equity, policy trends, and, in particular, Pacific Northwest energy issues. Conventional and unconventional energy technologies will be examined. Environmental problems and the treatment of externalities will be explored. So, too, will conservation as an energy resource. Potential energy shocks, ways to address uncertainty, and reliance on the market to solve energy problems will be studied. Several expert guest lecturers are scheduled. The class will focus on contemporary Northwest as well as national and global energy issues.

Fall 2010

None Scheduled 

Spring 2010

Fundamentals of Game Theory

This course provides an intuitive and formal understanding of how Game Theory can be used to inform decisions requiring strategic skills. To the extent that most human interactions are strategic, one might say you play games of strategy every day: with your parents, siblings, teammates, friends, enemies, even with your professors. This course builds on the instinctive expertise you may already have by introducing you in a formal context to strategic games in which players move sequentially, or simultaneously, or employ mixed strategies. Throughout the course you will also learn about some broad classes of games such as Prisoner’s Dilemma, Battle of the Sexes, the game of ‘Chicken’, and other games played under conditions or either perfect information or uncertainty.

Winter 2010

Energy Economics: An Overview 

The course investigates the economics of energy production and consumption, global energy resources, impacts of price on economic efficiency and equity, policy trends, and, in particular, Pacific Northwest energy issues. Conventional and unconventional energy technologies will be examined. Environmental problems and the treatment of externalities will be explored. So, too, will conservation as an energy resource. Potential energy shocks, ways to address uncertainty, and reliance on the market to solve energy problems will be studied. Several expert guest lecturers are scheduled. The class will focus on contemporary Northwest as well as national and global energy issues.

The Political Economy of Mexican Migration 

More than ten percent of the population of Mexico is estimated to live in the U.S. This course is designed to provide an economic understanding of this phenomenon, by investigating economic analyses of migration, development, poverty, inequality and wage determination; with particular attention to the economic situation in the U.S. and Mexico, and the economic relations between the two nations. Recommended Prerequisites: EC 201 and EC 202.

Note: This course is in the process of obtaining a regular number: EC 466/566, and is being accepted as a cluster course by the Latin American Studies Cluster.

Fall 2009

The Economics of War and Empire

Economists, historians and political leaders have for centuries debated whether or not political expansion and war are economically motivated, whether they serve to strengthen or weaken the economy, and how any economic gains or losses are distributed. This course will investigate both historical and contemporary analyses of the economic motivations and consequences of imperialism and war, distinguishing political and economic imperialism, with a particular focus on the recent history of the United States. Suggested prerequisites: EC 201 and EC 202.

Topics in East Asian Economic Development

Discussion of:Rapid East Asian development in the last decades; uniqueness of East Asian development; the sustainability of China's rapid growth; causes of the Asian financial crisis of 1997-98; implications of East Asian experience on other developing countries. Recomended: EC 201 and EC 202